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Saturday, September 29, 2012

''Why An Islamic Revolution In Saudi Arabia Is A Surefire Way To Send Oil To $300 A Barrel''

From 'There are no Sunglassses'By Martin Katusa

''To see $300/bbl oil, or to watch the news as Saudi troops attack
Tehran, or to see a stranglehold on US oil imports, watch what a failed
succession battle in the House of Saud that ends up destroying the whole
family and ushering in an Islamist age in Saudi Arabia would do to the
price of oil.

It could happen sooner than you think.
The king of Saudi Arabia, Abdullah Aziz bin Saud, is almost 90 years
old. In Saudi Arabia’s royal system, the throne passes not from father
to son but from brother to brother. The problem with the system is that
none of King Abdullah’s brothers are exactly young and full of vigor.''

............... ''It would also mean the end of the era of friendly US-Saudi relations…
and the demise of the petrodollar. That is a story in itself – one of
great significance to anyone who owns US dollars. I have discussed
previously how a US-Saudi deal to only use dollars to trade oil created
a deep pool of support for the US currency - and what will happen if
the petrodollar dies. The short version is that as the global oil trade
moves away from US dollars into yuan, yen, rubles, and pesos, the world would have yet another reason to devalue the dollar.''